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Sinclair To Buy Tribune Media, Including 2 Connecticut TV Stations

Customers check LCD television sets by Japanese electronics maker Sharp at an electronics shop in Tokyo on March 6, 2013. Shares in embattled Sharp soared on March 6 after reports that South Korean rival Samsung would become its biggest foreign shareholder, highlighting the fading fortunes of Japan's electronics giants. The huge move was stoked by reports in Japan's leading Nikkei business daily and other media that Samsung was set to invest in Sharp to boost its access to screens used in its popular smartphones and tablet computers -- a sector where Sharp's technology is a world leader. AFP PHOTO / Yoshikazu TSUNO (Photo credit should read YOSHIKAZU TSUNO/AFP/Getty Images)

File photo of TV sets. (credit: YOSHIKAZU TSUNO/AFP/Getty Images)

NEW YORK (CBS Connecticut and AP) – Sinclair Broadcast Group is buying Tribune Media for about $3.9 billion, boosting the number of local TV stations it owns.

Sinclair will own or operate more than 200 stations following the deal. Chicago-based Tribune owns or operates 42 television stations, including Fox 61 and WCCT in Connecticut, KTLA in Los Angeles and WPIX in New York, and it owns a stake in the Food Network.

Sinclair, based in Hunt Valley, Maryland, owns 173 stations around the country. It will pay $43.50 for each share of Tribune Media Co., an 8 percent premium from Tribune’s closing price of $40.29 on Friday.